General Moly, Inc. (the "Company") (NYSE: GMO) a U.S.-based
molybdenum mineral development, exploration and mining company, announced
through its 80% owned Mt. Hope subsidiary, Eureka Moly, LLC, that the Public
Utilities Commission of Nevada (“PUCN”) has granted a permit to construct a
230 kV power line that interconnects with Nevada Energy's transmission system
at the existing Machacek Substation located near the town of Eureka, NV and
extend it approximately 25 miles to the planned Mt. Hope Substation. In
addition, the Bureau of Land Management (“BLM”) has notified the Company that
its surety bonds were approved for Rights-of-Way grants for the 230 kV power
transmission line.